Surf Air Mobility Enters Agreement to Supply Electric Powertrains to Tanzanian Cessna Caravan Operator Auric Air
22 März 2024 - 1:30PM
Business Wire
Auric Air to upgrade up to 12 of their Cessna
Grand Caravan fleet with Surf Air’s electrified powertrains to
lower emissions and reduce direct operating costs.
Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf
Air”), a leading regional air mobility platform, has entered into a
memorandum of understanding with Auric Air Services Ltd. (“Auric
Air”), a Tanzania-based regional air operator flying both scheduled
and charter service across East Africa, to upgrade up to 12 of
Auric Air’s Cessna Grand Caravan aircraft with Surf Air’s
proprietary electrified powertrain technology once certified.
Surf Air now has approximately 13% of the Cessna Caravan market
in Africa under agreement to upgrade to its electrified
powertrains, once certified.
Surf Air is developing Supplemental Type Certifications for both
hybrid and fully-electric variants of the Cessna Grand Caravan.
With target reductions of up to 50% direct operating costs and 100%
in carbon emissions for the fully-electric powertrain, Surf Air
believes the impact for other air operators around the world will
be profound as the cost and environmental impact of flying is
significantly reduced.
“It’s exciting to have Auric Air share our mission of reducing
emissions through electrified aircraft,” said Stan Little, CEO of
Surf Air Mobility. “Auric Air’s commitment secures their preferred
delivery positions to upgrade their aircraft to our electrified
powertrains once the technology is certified.”
Surf Air recently announced similar electrified powertrain
agreements with other large Cessna Caravan air operators including
Safarilink, Yellow Wings, and Z.Boskovic in East Africa, and Azul
Connecta in Brazil.
About Surf Air Mobility
Surf Air Mobility, headquartered in Los Angeles, is a pioneering
regional air mobility platform dedicated to transforming regional
air travel through electrification. As the largest commuter airline
operator in the US, Surf Air Mobility partners with commercial
leaders to develop innovative powertrain technology for smaller
aircraft, facilitating the electrification of existing fleets and
the widespread adoption of electric aircraft. The company’s mission
is to drive substantial cost reductions and environmental benefits
to make regional flying more accessible and affordable. Backed by a
management team with extensive expertise spanning aviation,
electrification, and consumer technology, Surf Air Mobility is
poised to advance the future of sustainable air travel.
About Auric Air
Auric Air Services Ltd is a premier safari airline connecting
the most captivating destinations across East Africa, allowing
travelers to embark on unforgettable safari adventures. Auric Air
makes it easy to experience the awe-inspiring gorillas of Rwanda
and Uganda, the majestic Serengeti plains, the iconic Maasai Mara
in Kenya, the rugged beauty of Ruaha National Park, the exotic
Spice Island of Zanzibar, and more. The company offers seamless
connections to ensure travelers experience the wonders of nature
like never before. Auric Air offers an extraordinary safari
experience through East Africa's most enchanting destinations.
Forward Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements include, among
other things, statements about Surf Air Mobility’s ability to
anticipate the future needs of the air mobility market, and future
trends in the aviation industry, generally. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “could”, “might”, “plan”, “possible”, “project”,
“strive”, “budget”, “forecast”, “expect”, “intend”, “will”,
“estimate”, “anticipate”, “believe”, “predict”, “potential” or
“continue”, or the negatives of these terms or variations of them
or similar terminology. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: Surf Air Mobility’s limited operating history and that
Surf Air Mobility has not yet manufactured any hybrid-electric or
fully-electric aircraft; the powertrain technology Surf Air
Mobility plans to develop does not yet exist; any accidents or
incidents involving hybrid-electric or fully-electric aircraft; the
inability to accurately forecast demand for products and manage
product inventory in an effective and efficient manner; the
dependence on third-party partners and suppliers for the components
and collaboration in Surf Air Mobility’s development of
hybrid-electric and fully-electric powertrains, and any
interruptions, disagreements or delays with those partners and
suppliers; the inability to execute business objectives and growth
strategies successfully or sustain Surf Air Mobility’s growth; the
inability of Surf Air Mobility to obtain additional financing or
access the capital markets to fund its ongoing operations on
acceptable terms and conditions; changes in applicable laws or
regulations, and the impact of the regulatory environment and
complexities with compliance related to such environment.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those anticipated in the forward-looking statements. Although Surf
Air Mobility believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. Surf Air
Mobility cannot guarantee future results, level of activity,
performance or achievements and there is no representation that the
actual results achieved will be the same, in whole or in part, as
those set out in the forward-looking statements and financial
projections. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Surf Air Mobility does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Additional information
regarding these and other factors that could affect Surf Air
Mobility’s results is included in Surf Air Mobility’s SEC filings,
which may be obtained by visiting the SEC’s website at www.sec.gov
or the investor relations page at https://investors.surfair.com
under the “Financials—SEC Filings” section. Information contained
on, or that is referenced or can be accessed through, our website
does not constitute part of this document and inclusions of any
website addresses herein are inactive textual references only.
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